New York, NY – October 10th, 2018 – Tenex Capital Management (“Tenex”) is pleased to announce the sale of Brown Machine Group (“Brown”), a manufacturer and servicer of thermoforming and packaging systems for the food & beverage market. In addition to manufacturing thermoforming machinery, Brown provides associated tooling, kits, parts, maintenance services, and automated material handling systems.
During Tenex’s partnership with Brown, Tenex and Brown strategically scaled the business into higher-margin aftermarket revenue product categories through the successful execution of organic growth initiatives and two highly complementary acquisitions. Underpinning Brown’s growth achievements was the implementation of additional managerial processes, tools, and systems combined with investment in talent and resources necessary to support further scale and business complexity.
Tenex Principal Perrin Monroe commented, “Tenex’s partnership with Brown and the success we together have achieved highlights Tenex’s commitment to invest in growth and the infrastructure required to support it. We have thoroughly enjoyed our partnership with Brown and are excited for their continued success.”
About Brown Machine:
Brown Machine Group, headquartered in Beaverton, MI with locations in Fremont, OH and Knoxville, TN, is a global leader in thermoforming technology and innovation with high-quality product lines manufactured by Brown Machine, Lyle Industries, Nalle Automation Systems, EPCO, and Freeman. The company designs and manufactures a complete line of continuous and cut-sheet thermoforming equipment, automation systems and provides related services including retrofit upgrades, tooling, prototyping, process optimization and technical support. Its equipment has been “Made in the USA” since 1952 and it has thermoforming systems operating in over 65 countries worldwide in virtually every industry. For additional information, please visit www.brownmachinegroup.com
About Tenex Capital Management:
Tenex Capital Management is a private equity firm that invests in middle-market companies. Tenex uses an in-house team of hybrid investment professionals skilled in operational leadership, investing and capital markets structuring to maximize long-term value creation. Tenex’s deep operating experience allows the firm to collaborate with management teams to capitalize on business and market opportunities. Tenex has successfully invested in a diverse range of industries, including industrials, manufacturing, automotive aftermarket, and health and business services. For additional information, please visit www.tenexcm.com